Calculate Car Loan -

Before signing the papers, Maya wanted to know exactly what her monthly "rent" for that money would be. Step 1: Determine the Loan Amount (Principal)

Over the course of 5 years, she will pay a total of ( calculate car loan

Maya subtracts her down payment from the car's price to find out how much she actually needs to borrow. : Calculation : Step 2: Convert the Interest Rate Before signing the papers, Maya wanted to know

M=Pr(1+r)n(1+r)n−1cap M equals cap P the fraction with numerator r open paren 1 plus r close paren to the n-th power and denominator open paren 1 plus r close paren to the n-th power minus 1 end-fraction (Principal) (Monthly Interest Rate) (Total number of months) Calculate : Multiply by : Divide by : Final Multiplier : The Result Maya’s monthly payment will be $347.98 . Before signing the papers